IDEAS home Printed from https://ideas.repec.org/a/oup/cambje/v25y2001i1p79-96.html
   My bibliography  Save this article

Harrod's Dynamics and the Theory of Growth: The Story of a Mistaken Attribution

Author

Listed:
  • Besomi, Daniele

Abstract

Post-Keynesian growth theory is normally seen as originating from Harrod's 1939 "Essay in Dynamic Theory". Harrod, however, was trying to lay the foundations of a new approach to economic dynamics, and often complained of misinterpretation. In this paper, the grounds of Harrod's argument are examined and compared with the "textbook" interpretation. The latter is shown to be extremely reductive, as it ignores both Harrod's interest in the trade cycle and his methodological criticism of the "time-lag theories of the cycle", and it also underrates the interesting implications of his non-linear approach and the epistemic implications of the instability principle. Copyright 2001 by Oxford University Press.

Suggested Citation

  • Besomi, Daniele, 2001. "Harrod's Dynamics and the Theory of Growth: The Story of a Mistaken Attribution," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 25(1), pages 79-96, January.
  • Handle: RePEc:oup:cambje:v:25:y:2001:i:1:p:79-96
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Luca Fiorito & Matías Vernengo, 2009. "The Other J.M.: John Maurice Clark and the Keynesian Revolution," Journal of Economic Issues, Taylor & Francis Journals, vol. 43(4), pages 899-916.
    2. Daniele Besomi, 2002. "Lowe's and Hayek's influence on Harrod's trade cycle theory," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 9(1), pages 42-56.
    3. Hsu, Sara & Li, Jianjun, 2012. "“Ideal” financial development and financial overaccumulation," MPRA Paper 38035, University Library of Munich, Germany.
    4. Esteban Pérez Caldentey & Matías Vernengo, 2016. "Reading Keynes in Buenos Aires: Prebisch and the Dynamics of Capitalism," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 40(6), pages 1725-1741.
    5. Salahodjaev, Raufhon, 2014. "Институты И Экономический Рост: Результаты Эмпирического Анализа [Institutions and Economics Growth: Results of Empirical Analysis]," MPRA Paper 55628, University Library of Munich, Germany.
    6. Mauro BoianovskyBy, 2017. "Optimum saving and growth: Harrod on dynamic welfare economics," Oxford Economic Papers, Oxford University Press, vol. 69(4), pages 1120-1137.
    7. Jamee K. Moudud, 2010. "Strategic Competition, Dynamics, and the Role of the State," Books, Edward Elgar Publishing, number 4241.
    8. Attilio Trezzini, 2021. "Harrodian Instability: An Unhelpful Analytical Concept," Review of Radical Political Economics, Union for Radical Political Economics, vol. 53(2), pages 320-336, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:cambje:v:25:y:2001:i:1:p:79-96. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://academic.oup.com/cje .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.